US Xpress Enterprises Inc’s (USX) Lock-Up Period To End on December 11th
US Xpress Enterprises’ (NYSE:USX) lock-up period will expire on Tuesday, December 11th. US Xpress Enterprises had issued 18,056,000 shares in its public offering on June 14th. The total size of the offering was $288,896,000 based on an initial share price of $16.00. After the expiration of US Xpress Enterprises’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
USX has been the subject of a number of analyst reports. Bank of America reduced their price objective on shares of US Xpress Enterprises from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Zacks Investment Research downgraded shares of US Xpress Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of US Xpress Enterprises from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.67.
NYSE:USX opened at $7.03 on Thursday. US Xpress Enterprises has a 52 week low of $6.54 and a 52 week high of $16.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.04 and a quick ratio of 1.04.
In other US Xpress Enterprises news, Director John C. Rickel acquired 5,000 shares of US Xpress Enterprises stock in a transaction dated Monday, November 12th. The stock was bought at an average cost of $7.50 per share, with a total value of $37,500.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of US Xpress Enterprises during the 3rd quarter worth about $114,000. Verition Fund Management LLC acquired a new stake in shares of US Xpress Enterprises during the 3rd quarter worth about $142,000. Legal & General Group Plc acquired a new stake in shares of US Xpress Enterprises during the 2nd quarter worth about $152,000. Northern Trust Corp acquired a new stake in shares of US Xpress Enterprises during the 2nd quarter worth about $188,000. Finally, American International Group Inc. acquired a new stake in shares of US Xpress Enterprises during the 3rd quarter worth about $192,000.
US Xpress Enterprises Company Profile
U.S. Xpress Enterprises, Inc operates as an asset-based truckload carrier providing services primarily in the United States. It operates in two segments, Truckload and Brokerage. The Truckload segment offers asset-based truckload services, including the over-the-road and contract services. The Brokerage segment provides non-asset-based freight brokerage services.
Further Reading: Quiet Period
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